U.S. Fed slashes interest rates by 50 bps in first rate cut since 2020-Xinhua

U.S. Fed slashes interest rates by 50 bps in first rate cut since 2020

Source: Xinhua

Editor: huaxia

2024-09-19 08:05:17

The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years.

Produced by Xinhua Global Service

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